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Wealthy Executives Can Improve Society

Making money to give away. The only thing harder than building a great fortune is giving one away. At least that's the conclusion you might draw after looking at how hard the mega givers work at the task. [Economic Times: International Business]

The secret givers. New Jersey-born airport-gift-shop magnate Charles F. Feeney pulled it off, even concealing the fact of his giving from his longtime business partner. [Economic Times: International Business]

While corporate executives take a lot of criticism for their personal uses of money, many are making a real difference in society. As an executive, you have a responsibility to your employees and the communities around your businesses. This is part of the relationships surrounding you as an individual.

Even if you're as tough as Charles Dickens' cruel miser Scrooge, you much consider the value of the investments that reduce loss. Often a byproduct of charitable giving is greater productivity, innovation, fewer losses, and individual well-being.

Even if you can't see the philanthropic aspects of giving, you must at least appreciate the investment in self preservation. Many executives already see how their personal wealth can be leveraged to improve the probability their children will have a better life. Others give because it provides a channel to make a meaningful difference in their own lives (and the lives of others.)

The greatest executives of our time gave it all away, but did so quietly. It is the responsibility of the financially well off to solve problems that limit their own growth, especially if those problems are of a social nature. Of course, sharing ill gotten wealth doesn't make unethical behavior more acceptable.

It really comes down to doing the most with what you have, for yourself, for others, and for those who can't do for themselves. How are you making the world around you better? Yes, you have big responsibilities and can really improve society.

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By Justin Hitt at November 30, 2003 11:05 AM  Subscribe in a reader


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